EssilorLuxottica news and archive

EssilorLuxottica posts increase in Q2 revenue amid China rebound

Eyewear manufacturer EssilorLuxottica has reported an 8 percent increase in revenue in the second quarter as it benefited from a strong rebound in China. The French-Italian luxury group made revenue of 6.7 billion euros in the three months to June 30 compared to 6.4 billion euros a year earlier. The group experienced double-digit EMEA growth,...

Business

EssilorLuxottica accused of inflating sales in new antitrust complaint

French-Italian eyewear manufacturer EssilorLuxottica has been accused of engaging in a price-fixing scheme, with a new filing claiming that the company had inflated prices by as much as 1,000 percent. An antitrust complaint brought against the firm, which owns the likes of Ray-Ban and Oakley, dubbed EssilorLuxottica an “instigator and primary...

Fashion

Roger Federer signs eyewear license With EssilorLuxottica

Retired tennis star Roger Federer is launching his own eyewear after signing an exclusive licensing deal with EssilorLuxottica-owned eyewear label Oliver Peoples. In a statement, EssilorLuxottica said that Oliver Peoples will design, manufacture and distribute Roger Federer’s eyewear worldwide, with the first collection to launch in spring 2024....

Business

Swarovski secures 10-year licensing deal with EssilorLuxottica

Jewellery giant Swarovski has signed a new licensing deal with EssilorLuxottica, handing over the rights for the design, manufacture and distribution of Swarovski Eyewear to the Italian-French firm. The 10-year agreement will be in effect until December 31, 2028, with an automatic renewal option of a further five years. The first collection...

Business

Brunello Cucinelli signs 10-year licensing deal with EssilorLuxottica

Italian label Brunello Cucinelli has signed an exclusive 10-year licensing agreement with EssilorLuxottica, which will see the company design, manufacture and distribute eyewear under the ‘Brunello Cucinelli’ brand. The agreement will run from January 1, 2023, to December 31, 2032, with the first collection set to drop on the market in the first...

Business

Armani Group and EssilorLuxottica announce 15-year licensing renewal

The Armani Group and EssilorLuxottica have renewed their licensing agreement for a further 15 years. The current license was due to expire on December 31st and went into effect January 1st, 2013. The companies have been eyewear partners since 1988. “During the course of my career I have always built long-term collaborations and agreements with...

Business

EssilorLuxottica appoints new chairman following De Vecchio’s passing

Eyewear manufacturer EssilorLuxottica has announced that, following the death of Leonardo Del Vecchio, its board of directors have appointed Francesco Milleri as the company’s new chairman. Milleri will also continue to carry on his term of office as chief executive officer. Additionally, Paul du Saillant has been confirmed as the new deputy...

Business

EssilorLuxottica to repurchase up to 2.5 million shares

EssilorLuxottica SA, a French provider of ophthalmic lenses and frames, said on Friday that it will buy back up to 2.5 million shares in the period starting from June 17 to August 31, for a price not exceeding 200 euros per share. Ophthalmic products maker also said that its move "reflects the Group's confidence in its value creation and...

Business

EssilorLuxottica, GrandVision ink deal with Vision Group for stores in Italy

(ESLOY.PK), GrandVision, and Vision Group, manufacturers and suppliers of optical materials under VisionOttica banner, said on Friday that they inked a deal, wherein Vision Group will acquire VistaSì chain in Italy. The acquisition includes the brand and all the 99 stores, and 75 GrandVision stores in the European country. The financial terms of...

Business

EssilorLuxottica warns On Q2 revenue, withdraws FY20 outlook due to COVID-19

French ophthalmic company EssilorLuxottica SA (ESLOF.PK, ESLOY.PK) Friday said it recorded solid growth in the months of January and February, in line with its full year targets. Due to the evolving coronavirus or COVID-19 pandemic, the company said its outlook for fiscal 2020 is no longer valid. In its trading update, the company noted that...

Business

EssilorLuxottica sees sales growth In FY20

French ophthalmic company EssilorLuxottica SA (ESLOF.PK, ESLOY.PK) reported Thursday that its fiscal 2019 net profit attributable to owners of the parent was 1.077 billion euros, compared to last year's 1.083 billion euros. Earnings per share, meanwhile, plunged to 2.44 euros from 4.07 euros last year, reflecting significantly higher share...

Business

EssilorLuxottica to acquire 76.72 percent stake in GrandVision

EssilorLuxottica has announced that the company is acquiring HAL's 76.72 percent interest in GrandVision at a cash purchase price equal to 28 euros (31 dollars) per share – to be increased by 1.5 percent to 28.42 euros (31.7 dollars) if closing of the acquisition does not occur within 12 months from the announcement date. After the closing of...